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This paper is the first to investigate an alternative approach of privatization: privatizing only a subsidiary of a … portion of the firm's stocks to private investors (entirety privatization), we consider only a subsidiary of the public firm … is privatized (subsidiary privatization). We find that subsidiary privatization not only improves social welfare …
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owned enterprises (POEs) in China to complete cross-border acquisitions. Using a sample of Chinese POEs from 2007 to 2016 … in China exhibit better corporate governance …
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